Silver spikes to Rs 30,820 per kg

Silver prices moved up by Rs 0.27,or 0.09 per cent,to Rs 30,820 per kg in futures market on pick up in demand at spot markets,influenced by the ongoing festive season.

At the Multi Commodity Exchange platform,silver for September-month rose by Rs 27,or 0.09 per cent,to Rs 30,820 per kg,with an open interest of 3,007 lots.

Similarly,the metal for delivery in December gained Rs 24,or 0.08 per cent,to Rs 30,772 per kg,with an open interest of 27,669 lots.

Market analysts said rising demand in the spot market in view of festive season mainly led to a rise in silver prices at futures trade.